Regulatory Ramblings: Episode 64 – Building Inclusion Through Sustainable Leadership / The EU Omnibus Proposal with Janet Ledger and Dr. Inna Amesheva

Thomas Fox - Compliance Evangelist
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A recent article from Bloomberg (linked below) stated that a growing European chorus is seeking more simplified ESG rules. To that end, a group called the Platform on Sustainable Finance advises the European Commission to change its taxonomy. The concern is that current ESG rules are complicated and of limited use.

The episode commences with a brief conversation between Dr. Inna Amesheva and Regulatory Ramblings host Ajay Shamdasani about the Platform on Sustainable Finance, which is seeking substantial See more +

A recent article from Bloomberg (linked below) stated that a growing European chorus is seeking more simplified ESG rules. To that end, a group called the Platform on Sustainable Finance advises the European Commission to change its taxonomy. The concern is that current ESG rules are complicated and of limited use.

The episode commences with a brief conversation between Dr. Inna Amesheva and Regulatory Ramblings host Ajay Shamdasani about the Platform on Sustainable Finance, which is seeking substantial changes to rules for corporate reporting of sustainable business activities. Specifically, it wants the European Union’s Taxonomy Regulation to be revised to make it easier for companies to decide which metrics are material to report.

Inna shares her thoughts on the regulation, which was adopted in 2020 and has been characterized by some companies as overly complicated and of limited use.

They go on to discuss the platform’s position that the changes would reduce the reporting burden for non-financial companies by roughly 33% and lead to a significant simplification for financial institutions. Of course, the devil is in the details, and it remains to be seen if such claims are hyperbole or would, in fact, make it easier for EU corporations to comply.

Inna also explains the platform’s contention that corporate reporting burdens could be eased by making some data voluntary and simplifying disclosure templates. Yet, at a time when many stress the importance of greater transparency, making some data voluntary might lead to less disclosure.

The conversation concludes with whether the recommended changes for calculating the so-called green-asset ratio—which measures banks’ investments in sustainable businesses—will dilute standards. It is worth adding that many public interest groups in Europe object to lower ESG standards. ?

Following that, in our longer segment, we speak with Janet Ledger, CEO of Community Business, a Hong Kong-based NGO that is one of the city’s most renowned and active, on how ESG can drive forward the goals of diversity, equity, and inclusion, better known by the acronym DEI.

Janet tells us a little bit about herself, her background, upbringing, education, and professional path. She recounts that she was blessed with a forward-thinking father who empowered and encouraged her at an early age and was not affected by the biases of his generation, which sometimes led to an unfair division of labor based on gender.

She also describes what brought her to community business and when she became interested in ESG and DEI. Janet strongly believes ESG can be used to achieve DEI’s goals and stresses that there are deep links between the two and synergies to be had.

The conversation wraps up with Janet sharing her thoughts on the backlash against DEI in recent years, particularly in Corporate America.

Useful links in this episode:

* Follow Janet Ledger on LinkedIn | https://www.linkedin.com/in/janet-ledger-8422524/

* Community Business: Webpage | https://www.linkedin.com/company/community-business/

* Follow Inna Amesheva on LinkedIn | https://www.linkedin.com/in/inna-amesheva/

* ESG Book: Webpage | https://www.linkedin.com/company/esgbook/

* Reference: “Calls for Simplifying ESG Rules Grow Louder in Europe,” by

Frances Schwartzkopff, Bloomberg, February 5, 2025, https://news.bloomberglaw.com/daily-labor-report/calls-for-simplifying-esg-rules-grow-louder-in-europe-1 See less -

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